Business: Copper Adjusted?

In the face of a commodity decline
which has caused such losses in the past five months as 15% for wheat,
16% for silver, 13% for lead, copper long stayed firm at 18¢. Last
week, two days before the first anniversary of the 18¢ level, copper
dropped to 14¢. In actual size, this 22% reduction is a tremendous one,
perhaps the biggest single drop ever recorded in any commodity. But
the news was neither surprising nor alarming, for 18¢ copper had lately
been becoming more a theory than a fact.